Casinos Market Size, Share, Growth, and Industry Analysis by Type (Gambling Machines, Gaming Tables, and Online Legal Casino Gaming Services) By Enterprise Size (On-line, and Off-line), Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

Casinos Market Report Overview

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The global casinos market size is expected to be worth USD 70250 million in 2022 and is projected to touch USD 121773.92 million by 2031, at a CAGR of 5.6% during the forecast period.

A casino is a public location where a number of games of chance can be played and where gambling is the main pastime of visitors. Every game that a casino offers has a built-in statistical advantage that allows the casino to profit from it. Although this edge may appear to be very small, with time and the millions of bets made by casino visitors, the casino is able to fund the construction of lavish hotels, fountains, enormous pyramids, towers, and replicas of well-known structures. Depending on the game, the casino advantage is referred to as the "vig", also known as vigorish or the "rake." Depending on the player's strategy and whether the casino has set different payouts for video poker or slot machines, the precise figure may change. Gambling's precise ancestry is unknown. It is generally accepted that gambling has existed in some form or another in almost every society throughout history. In order to prevent a player from winning more money than the casino can afford to pay out, casinos typically accept all bets placed by customers up to a predetermined limit. Every game a casino offers has a mathematical expectation of winning, and it is extremely uncommon for a casino to experience financial loss from its games, even for a single day.

COVID-19 Impact: Mixed Effect on Casinos Market 

The global COVID-19 pandemic has been unprecedented and staggering, with the casinos market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden surge in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Commercial gambling has been greatly impacted by the COVID-19 lockdown response in many jurisdictions around the world. COVID-19 has had an effect on almost every industry in the world. Some have experienced significant issues, whereas others have only experienced a minor but manageable impact on their business. Depending on which area of the industry you examine, the casino industry has experienced two opposites. Some nations have allowed casinos and other gambling establishments to remain open, while others have had to shut their doors. The industry has been greatly impacted by this and is currently trying to figure out how to move forward. COVID-19 hurt offline casinos, but it also helped the online casino sector to grow. The ease of lockdown and restriction is expected to have a positive impact on both the offline as well as online casinos market growth.

Latest Trends

"Increasing Adoption of Online Payment Services to Drive the Market"

Due to the growing popularity of mobile and online payment platforms, payment solutions are now more easily accessible to consumers and online players, which thereby attracts more players and drives the casinos market growth. The online gaming industry accepts online payments as a reliable and secure method of payment. This problem is leading to an increase in the market for online gaming. The growth of the online betting market is primarily driven by the online sports category, particularly for football events like the FIFA World Cup and the European Championships. Many online sports betting companies sponsor other teams as part of their marketing strategies by buying or merging with other companies for tactical expansions.

Casinos Market Segmentation

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• By Type

The market is classified into gambling machines, gaming tables, and online legal casino gaming services based on type. The gambling machines segment will lead the casinos market share throughout the forecast period.

• By Enterprise Size

The market is classified into on-line, and off-line on the basis of enterprise size. The on-line segment will lead the casinos market share throughout the forecast period.

Driving Factors

"Increasing Socialization While Playing to Drive the Market "

One of the biggest advantages of gambling nowadays is of the benefit of socializing. Even though players can place wagers online from the comfort of their beds, gambling still enables them to interact socially with other players. They can pool their resources and go out with their friends to visit casinos or hang out at racetracks, or they can purchase lottery tickets alongside like-minded individuals. There are many things that need to be done. While some claim that gambling alone is enjoyable, it is actually even more enjoyable to partake in this entertaining activity with others. Few pastimes offer as much social entertainment for friends as gambling does.

"Adoption of Virtual Reality in Casino Games to Drive the Market"

A common trend that is noticeable among gaming companies is the adoption of augmented and virtual reality. The creation of a completely new environment and new reality for the players is made possible by augmented and virtual reality. In just a few years, several gaming companies have released augmented reality-based games, changing the way that gambling is done using alluring AR and VR technology. Using various devices, multiplayers will be able to play XR casino games together on the new mixed reality platform.

Restraining Factors

"Addiction of Gambling to Restrain the Market"

The biggest disadvantage of the casinos is that certain segments of the target population are developing gambling addictions, which further burden them financially and cause them to fall into debt traps. Thus, the casinos market growth will be hampered by this factor.

Casinos Market Regional Insights

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"Asia Pacific to Hold the Largest Market Share Owing to Increasing Reliance on Mobile Gaming"

During the forecast period, Asia Pacific is expected to hold the largest casinos market share. The region's growth is driven by an increased reliance on mobile devices for entertainment and an increase in internet users. Due to technological advancements in the gaming sector, high-speed networks, and accessible and affordable internet data, nations like India and China are breaking into the market.

After Asia Pacific, North America is expected to hold the second largest market share as a result of the region's growing legalisation of gambling and increased propensity for gambling. The regional market will be also driven in the coming years by the presence of well-known players and consumer spending on gambling.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage  "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Caesars Entertainment (U.S.)
• Galaxy Entertainment (China)
• Las Vegas Sands (U.S.)
• MGM Resorts (U.S.)
• SJM Holdings (China)
• 888 Holdings (U.K.)
• Betfair Online Casino Games (U.K.)
• Boyd Gaming (U.S.)
• City of Dreams Manila (Philippines)
• Delaware Park (U.S.)
• Dover Downs Gaming & Entertainment (U.S.)
• Foxwoods Resort Casino (U.S.)
• Gala Coral Group (U.K.)
• Golden Nugget Online Casino (U.S.)
• Harrington Gaming online (U.S.)
• Isle of Capri Casinos (U.S.)
• Ladbrokes (U.K.)
• Palms Casino Resort (U.S.)
• Penn National Gaming (U.S.)
• Philippines Amusement and Gaming Corporation (PAGCOR) (Philippines)
• Pinnacle Entertainment (U.S.)
• Resorts World Manila (Philippines)
• Station Casinos (U.S.)
• Stratosphere (Canada)
• Tropicana Entertainment (U.S.)
• Trump Entertainment Resorts (U.S.)
• William Hill (U.K.)
• Wynn Resorts (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.